Fort Worth daily gazette. (Fort Worth, Tex.) 1882-1891, 1887-03-18
A MILLION INVOLVED.
The Bottom Drops Completely Out OF
New York FertiliziHg Company
Attachments Rum
The Head of the Firm Absconds with at
Least 5000, OOO-The Liabilities
Immense.

NEW YORK, March 17.-Sherif Grant
has seized the place of business of Walter
Z. LaWton at 81 Broadway, who did bust
ness under the name of LaWtOn Bros. as
fertilizers, under attachments on cred
itors' claims amounting to $2+5 900. 1t
is charged that L3Wt0n abscOnded to de-
fraud his creditors, that he has disposed
of his property and taken 2 large
amount Of money with him. Rufus
Kirkland, LlWton's cashier, states
that on Tuesday Lawton withdrew all his
funds from the different banks in which
he deposited and took them with him
Lawton destroyed all the stubs, checks
and papers from which any information
could be secured as to the disposition of
the funds. James D. Jones placed in
LawtOl's care, Tuesday, on behalf of the
company, SIP, 600. This IS also gone.
Kirkland states that on Tuesday he had
an interview with LawtOn and that
LawtOn requested HIM to go with
him to the officers of the
Third National Bank and introduce nm.
This he DID. LawtOn also asked him to
obtain q blank warranty deed for the ecu
YeyGIc1 % real estate in New Jersey aud
meet him st the New York hotel. He
met HIM and Doth went 10 the Grand Cen
tral depot. LaWtOn told Kirkland that
he intended to leave the city by train,
that he had drawn all the money
on deposit, that he was ruined
and he didn't know what to
do and he would probably commit
suicide. A second attachment was issued
at the instance Of the Chemical, AmmUn-
tie and Oil Company, upon a similar
claim. The company delivered to Lawton
prOmisSOry notes in trust TO discount the
notes and hold the proceeds for the COM
pany'e benefit. In addition, he received
$4,000 in money. He discounted the notes,
kept the proceeds, and also retained the
money and converted it to his own use
a number of banks were reported TO be
heavy losers through negotiations of Law
toms paper, among them the First and
Third National Banks, the Bank of the
Republic, and the Chemical Bank. The
president Of the First National Bank de-
MES that the bank had ever handled any
Of Lswton's paper. The president of the
American Exchange National Bank, which
was also reported to be a heavy loser,
would neither affirm nor deny the
rumOr. The president OF the Third
National Bank says his institution holds
but q very small amount which is
secured ny good ind0rsers. Just before
leaving the city LswtOn drew fro N the
Third National Bank on checks $4,000
or $l2, 600. Some of these checks to the
amount of $500 were returned unpaid
through the clearing house.
Abraham Kings said 81 have fled at
tachments IN the office of the County Clerk
for the companies of which | am attOr-
ney. The amount of the claims will ag-
gregste more than $500, 900. The prop
erty which l have attached is worth about
as much. l have no means of knowing
how much the liabilities Will be, but they
will be over $500, 900. l don't know
where LawtOn has gone. He has taken
away about 100000, which he raised on
notes OF the companies tor which | am
acting. I cannot just tell yet and may
not be able for several days 10 tell how
the different companies and banks are
stuck"
The associates of LaWtOn look upon his
disappearance as part of a gigantic
sWindliug operation. The bCokkeeper of
the firm il reported to have lost
sll he had. One man who is a heavy
loser said LawtOn had OverdraWn his &C
counts, had got all the money that he
could, had sold his houses, converted all
his property into cash and left for Eng
LAND yesterday on his way to his brother
in Sussex. The amount involved by his
operations is placed al over 81, 000,000
Lawton got a boy TO help remove four
or five vslises which seemed to be tightly
filed. His credit was high, and he was
rated at over 100000 by commercial
agencies.